55024 Zip Code Detailed Profile




Cities: Farmington, MN (15.98%), Lakeville, MN (3.70%)
County: Dakota County, MN
Estimated zip code population in 2013: 32,547
Zip code population in 2010: 32,406
Zip code population in 2000: 21,125

Houses and condos: 11,403
Renter-occupied apartments: 1,045
% of renters here:

9%
State:

28%
Mar. 2013 cost of living index in zip code 55024: 112.6 (more than average, U.S. average is 100)

Land area: 89.0 sq. mi.
Water area: 1.2 sq. mi.
Population density: 366 people per square mile 
 
 (very low).

Age and Sex of Residents in zip code 55024
Zip code 55024 (Farmington, Minnesota) real estate house value trends
Home Value Estimate
Address:
Unit (optional):
City
State
Zip


Recent Home Sales
Address:
City

State
Zip
Min Price (optional)

Max Price (optional)
Prioritization:



Recent home sales, real estate maps, and home value estimator for zip code 55024

  • OSM Map
  • General Map
  • Google Map
  • MSN Map

Real estate property taxes paid for housing units in 2013:
This zip code:

1.3% ($2,843)
Minnesota:

1.2% ($2,148)
Median real estate property taxes paid for housing units with mortgages in 2013: $2,977 (1.4%)
Median real estate property taxes paid for housing units with no mortgage in 2013: $2,216 (1.3%)

Put your B&M business profile right here for free. 20,000 businesses already created their profiles!

Business Search - 14 Million verified businesses
Search for: near:  

Males: 16,088  (49.4%)
Females: 16,459  (50.6%)

For population 25 years and over in 55024:

For population 15 years and over in 55024:

Zip code 55024 compared to state average:

  • Black race population percentage below state average.
  • Hispanic race population percentage below state average.
  • Median age below state average.
  • Renting percentage significantly below state average.
  • Length of stay since moving in below state average.
  • House age significantly below state average.
  • Races in zip code 55024

  • Zip code 55024 races chart
    • 28,670White population
    • 602Black population
    • 96American Indian population
    • 1,154Asian population
    • 16Native Hawaiian and Other Pacific Islander population
    • 62Some other race population
    • 685Two or more races population
    • 1,121Hispanic or Latino population

Options
X
Data:
Options
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Urban population: 28,246
Rural population: 4,300

Estimated median house/condo value in 2013: $210,800
55024:

$210,800
Minnesota:

$180,100
Median resident age:
This zip code:

33.5 years
Minnesota median age:

37.7 years
Average household size:
This zip code:

2.9 people
Minnesota:

2.5 people

Averages for the 2012 tax year for zip code 55024, filed in 2013:

Average Adjusted Gross Income (AGI) in 2012: $65,822 (Individual Income Tax Returns)
Here:

$65,822
State:

$67,192

Salary/wage: $61,056 (reported on 92.1% of returns)
Here:

$61,056
State:

$55,182
(% of AGI for various income ranges: 80.7% for AGIs below $25k, 85.4% for AGIs $25k-50k, 85.7% for AGIs $50k-75k, 87.2% for AGIs $75k-100k, 90.4% for AGIs $100k-200k, 65.8% for AGIs over 200k)

Taxable interest for individuals: $586 (reported on 33.6% of returns)
This zip code:

$586
Minnesota:

$1,664
(% of AGI for various income ranges: 0.8% for AGIs below $25k, 0.4% for AGIs $25k-50k, 0.2% for AGIs $50k-75k, 0.3% for AGIs $75k-100k, 0.2% for AGIs $100k-200k, 0.4% for AGIs over 200k)

Ordinary dividends: $1,618 (reported on 18.3% of returns)
Here:

$1,618
State:

$5,665
(% of AGI for various income ranges: 0.8% for AGIs below $25k, 0.5% for AGIs $25k-50k, 0.3% for AGIs $50k-75k, 0.3% for AGIs $75k-100k, 0.4% for AGIs $100k-200k, 0.8% for AGIs over 200k)

Net capital gain/loss in AGI: +$3,827 (reported on 13.9% of returns)
Here:

+$3,827
State:

+$16,131
(% of AGI for various income ranges: 0.2% for AGIs $25k-50k, 0.2% for AGIs $50k-75k, 0.3% for AGIs $75k-100k, 0.5% for AGIs $100k-200k, 4.6% for AGIs over 200k)

Profit/loss from business: +$10,858 (reported on 13.9% of returns)
Here:

+$10,858
State:

+$12,430
(% of AGI for various income ranges: 6.1% for AGIs below $25k, 2.9% for AGIs $25k-50k, 2.6% for AGIs $50k-75k, 2.2% for AGIs $75k-100k, 1.4% for AGIs $100k-200k, 3.1% for AGIs over 200k)

Taxable individual retirement arrangement distribution: $13,493 (reported on 7.7% of returns)
55024:

$13,493
Minnesota:

$15,212
(% of AGI for various income ranges: 3.1% for AGIs below $25k, 1.9% for AGIs $25k-50k, 1.8% for AGIs $50k-75k, 1.6% for AGIs $75k-100k, 1.4% for AGIs $100k-200k, 0.9% for AGIs over 200k)

Self-employment retirement plans: $12,233 (reported on 0.4% of returns)
55024:

$12,233
Minnesota:

$17,874
(% of AGI for various income ranges: 0.1% for AGIs $50k-75k, 0.1% for AGIs $100k-200k)

Total itemized deductions: $20,895 (21% of AGI, reported on 51.2% of returns)
Here:

$20,895
State:

$24,665

Here:

21.1% of AGI
State:

19.6% of AGI
(% of AGI for various income ranges: 10.1% for AGIs below $25k, 13.4% for AGIs $25k-50k, 16.3% for AGIs $50k-75k, 18.0% for AGIs $75k-100k, 17.8% for AGIs $100k-200k, 13.4% for AGIs over 200k)

Charity contributions: $2,309 (reported on 43.0% of returns)
Here:

$2,309
State:

$3,948
(% of AGI for various income ranges: 0.8% for AGIs below $25k, 1.0% for AGIs $25k-50k, 1.3% for AGIs $50k-75k, 1.7% for AGIs $75k-100k, 1.7% for AGIs $100k-200k, 1.8% for AGIs over 200k)

Taxes paid: $8,172 (reported on 51.2% of returns)
55024:

$8,172
State:

$10,589
(% of AGI for various income ranges: 1.9% for AGIs below $25k, 3.8% for AGIs $25k-50k, 5.4% for AGIs $50k-75k, 6.5% for AGIs $75k-100k, 7.6% for AGIs $100k-200k, 7.5% for AGIs over 200k)

Earned income credit: $2,093 (reported on 9.4% of returns)
Here:

$2,093
State:

$2,037
(% of AGI for various income ranges: 4.2% for AGIs below $25k, 0.9% for AGIs $25k-50k)

Averages for the 2004 tax year for zip code 55024, filed in 2005:

Average Adjusted Gross Income (AGI) in 2004: $56,836 (Individual Income Tax Returns)
Here:

$56,836
State:

$53,560

Salary/wage: $53,172 (reported on 93.5% of returns)
Here:

$53,172
State:

$46,177
(% of AGI for various income ranges: 118.5% for AGIs below $10k, 81.1% for AGIs $10k-25k, 90.2% for AGIs $25k-50k, 90.6% for AGIs $50k-75k, 93.0% for AGIs $75k-100k, 79.0% for AGIs over 100k)

Taxable interest for individuals: $946 (reported on 44.3% of returns)
This zip code:

$946
Minnesota:

$1,796
(% of AGI for various income ranges: 3.9% for AGIs below $10k, 1.8% for AGIs $10k-25k, 0.6% for AGIs $25k-50k, 0.4% for AGIs $50k-75k, 0.4% for AGIs $75k-100k, 1.1% for AGIs over 100k)

Taxable dividends: $1,013 (reported on 22.3% of returns)
Here:

$1,013
State:

$3,096
(% of AGI for various income ranges: 1.2% for AGIs below $10k, 0.7% for AGIs $10k-25k, 0.3% for AGIs $25k-50k, 0.3% for AGIs $50k-75k, 0.2% for AGIs $75k-100k, 0.6% for AGIs over 100k)

Net capital gain/loss: +$6,313 (reported on 17.0% of returns)
Here:

+$6,313
State:

+$10,864
(% of AGI for various income ranges: -1.0% for AGIs below $10k, 0.4% for AGIs $10k-25k, 0.3% for AGIs $25k-50k, 0.1% for AGIs $50k-75k, 0.4% for AGIs $75k-100k, 5.6% for AGIs over 100k)

Profit/loss from business: +$7,537 (reported on 15.4% of returns)
Here:

+$7,537
State:

+$10,442
(% of AGI for various income ranges: 1.4% for AGIs below $10k, 5.5% for AGIs $10k-25k, 2.9% for AGIs $25k-50k, 2.2% for AGIs $50k-75k, 1.5% for AGIs $75k-100k, 1.5% for AGIs over 100k)

IRA payment deduction: $2,687 (reported on 2.0% of returns)
55024:

$2,687
Minnesota:

$2,955
(% of AGI for various income ranges: 0.2% for AGIs $10k-25k, 0.2% for AGIs $25k-50k, 0.1% for AGIs $50k-75k, 0.1% for AGIs $75k-100k, 0.1% for AGIs over 100k)

Self-employed pension: $7,190 (reported on 0.6% of returns)
Here:

$7,190
Minnesota:

$12,099
(% of AGI for various income ranges: 0.1% for AGIs $10k-25k, 0.1% for AGIs $50k-75k, 0.1% for AGIs $75k-100k, 0.1% for AGIs over 100k)

Total itemized deductions: $18,269 (24% of AGI, reported on 61.1% of returns)
Here:

$18,269
State:

$20,035

Here:

23.6% of AGI
State:

21.3% of AGI
(% of AGI for various income ranges: 12.9% for AGIs below $10k, 14.7% for AGIs $10k-25k, 19.3% for AGIs $25k-50k, 22.3% for AGIs $50k-75k, 21.2% for AGIs $75k-100k, 17.3% for AGIs over 100k)

Charity contributions deductions: $2,038 (3% of AGI, reported on 54.6% of returns)
Here:

$2,038
State:

$3,333

Here:

2.5% of AGI
State:

3.4% of AGI
(% of AGI for various income ranges: 0.8% for AGIs below $10k, 1.5% for AGIs $10k-25k, 1.6% for AGIs $25k-50k, 2.0% for AGIs $50k-75k, 2.1% for AGIs $75k-100k, 2.1% for AGIs over 100k)

Total tax: $6,547 (reported on 84.7% of returns)
55024:

$6,547
State:

$8,485
(% of AGI for various income ranges: 3.2% for AGIs below $10k, 5.0% for AGIs $10k-25k, 7.0% for AGIs $25k-50k, 7.4% for AGIs $50k-75k, 8.6% for AGIs $75k-100k, 14.8% for AGIs over 100k)

Earned income credit: $1,505 (reported on 6.3% of returns)
Here:

$1,505
State:

$1,523

Percentage of individuals using paid preparers for their 2004 taxes: 53.4%
Here:

53%
State:

59%
(% for various income ranges: 38.6% for AGIs below $10k, 49.8% for AGIs $10k-25k, 56.4% for AGIs $25k-50k, 56.3% for AGIs $50k-75k, 55.2% for AGIs $75k-100k, 60.3% for AGIs over 100k)

Estimated median household income in 2013:
This zip code:

$85,662
Minnesota:

$60,702
Farmington, MN (55024) map Nearest zip codes: 55068, 55065, 55124, 55044, 55031, 55057.
Percentage of family households:
This zip code:

72.3%
Minnesota:

50.8%
Percentage of households with unmarried partners:
This zip code:

6.4%
Minnesota:

6.7%
Likely homosexual households (counted as self-reported same-sex unmarried-partner households)

Household received Food Stamps/SNAP in the past 12 months: 357
Household did not receive Food Stamps/SNAP in the past 12 months: 10,696


Women who had a birth in the past 12 months: 471 (403 now married, 68 unmarried)
Women who did not have a birth in the past 12 months: 8,562 (5,489 now married, 3,073 unmarried)


Housing units in zip code 55024 with a mortgage: 8,512 (971 second mortgage, 1,691 home equity loan, 97 both second mortgage and home equity loan)
Houses without a mortgage: 1,496

Median monthly owner costs for units with a mortgage: $1,802
Median monthly owner costs for units without a mortgage: S558

Residents with income below the poverty level in 2013:
This zip code:

4.0%
Whole state:

11.2%
Residents with income below 50% of the poverty level in 2013:
This zip code:

2.4%
Whole state:

6.3%
Median number of rooms in houses and condos:
Here:

7.1
State:

7.0
Median number of rooms in apartments:
Here:

4.8
State:

4.0
  • Notable locations in this zip code not listed on our city pages

  • Click to draw/clear zip code borders
  • Notable locations in zip code 55024: Southern Hills Golf Club (A), Fountain Valley Golf Club (B), Farmington Fire Department Station 2 (C), Lakeville Fire Department Station 2 (D), Farmington Fire Department Station 1 (E). Display/hide their locations on the map

    Shopping Center: Farmington Mall Shopping Center (1). Display/hide its location on the map

    Church in zip code 55024: Highview Church (A). Display/hide its location on the map

    Cemeteries: McNutt Cemetery (1), Highview Christiana Cemetery (2), Castle Rock Valley Cemetery (3), Corinthian Cemetery (4), Saint John Cemetery (5), East Christiania Cemetery (6), Saint Michaels Cemetery (7). Display/hide their locations on the map

    Lake: Chub Lake (A). Display/hide its location on the map

    Parks in zip code 55024 include: Hill Dee Park (1), Northview Park (2), Troy Hills Park (3), Dakota Estates Park (4), Lake Julia Park (5), Fair Hills Park (6), Meadow View Park (7), Westview Park (8), Rambling River Park (9). Display/hide their locations on the map

Year house built

  • 962010 or later
  • 4,2142000 to 2009
  • 3,2121990 to 1999
  • 1,2771980 to 1989
  • 1,0041970 to 1979
  • 4971960 to 1969
  • 3531950 to 1959
  • 1371940 to 1949
  • 6131939 or earlier

Zip code 55024 satellite photo by USGS

Owner-occupied Renter-occupied

Bedrooms in owner-occupied houses and condos in Farmington, MN (55024)

  • 0no bedroom
  • 1041 bedroom
  • 1,8992 bedrooms
  • 3,6713 bedrooms
  • 3,4254 bedrooms
  • 9095+ bedrooms

Bedrooms in renter-occupied apartments in Farmington, MN (55024)

  • 25no bedroom
  • 1981 bedroom
  • 3402 bedrooms
  • 3043 bedrooms
  • 1694 bedrooms
  • 95+ bedrooms
Owner-occupied Renter-occupied

Cars and other vehicles available in Farmington, MN (55024) in owner-occupied houses/condos

  • 133no vehicle
  • 1,7521 vehicle
  • 5,4672 vehicles
  • 1,9503 vehicles
  • 5444 vehicles
  • 1625+ vehicles

Cars and other vehicles available in Farmington, MN (55024) in renter-occupied apartments

  • 107no vehicle
  • 4481 vehicle
  • 3602 vehicles
  • 703 vehicles
  • 604 vehicles
  • 05+ vehicles

Median gross rent in 2013: $1,044.


Median price asked for vacant for-sale houses and condos in 2013: $209,652.

Estimated median house (or condo) value in 2013 for:


Estimated median house or condo value in 2013: $210,800
55024:

$210,800
Minnesota:

$180,100
Lower value quartile - upper value quartile: $155,800 - $271,300

Mean price in 2013:

Detached houses: $280,499
Here:

$280,499
State:

$229,257

Townhouses or other attached units: $163,707
Here:

$163,707
State:

$168,477

In 2-unit structures: $165,427
Here:

$165,427
State:

$168,680

In 3-to-4-unit structures: $136,943
Here:

$136,943
State:

$142,494

In 5-or-more-unit structures: $89,614
Here:

$89,614
State:

$160,166

Mobile homes: $28,351
Here:

$28,351
State:

$45,753

Owners and renters by unit type in %

Breakdown of mean house values by ages of householders

Housing units in structures:


Unemployment: 5.3%

Percentage of zip code residents living and working in this county: 56.1%

Household type by relationship:

Households: 32,377

Size of family households: 2,650 2-persons, 2,140 3-persons, 2,658 4-persons, 1,038 5-persons, 252 6-persons, 32 7-or-more-persons

Size of nonfamily households: 1,781 1-person, 362 2-persons, 135 3-persons, 5 4-persons

8,500 married couples with children.
1,529 single-parent households (437 men, 1,092 women).

93.7% of residents of 55024 zip code speak English at home.
2.1% of residents speak Spanish at home (70% very well, 17% well, 13% not well).
1.3% of residents speak other Indo-European language at home (70% very well, 19% well, 8% not well, 4% not at all).
2.3% of residents speak Asian or Pacific Island language at home (48% very well, 40% well, 12% not well).
0.5% of residents speak other language at home (69% very well, 26% well, 5% not well).

Foreign born population: 1,633 (5.0%)
(64.5% of them are naturalized citizens)
This zip code:

5.0%
Whole state:

7.4%

Most common places of birth for the foreign-born residents

  • 17%Cambodia
  • 15%Korea
  • 6%Philippines
  • 6%Vietnam
  • 5%Mexico
  • 5%Thailand
  • 5%Canada

Most common first ancestries reported in 55024 (%)

  • 29%German
  • 12%Other groups
  • 12%Norwegian
  • 8%Irish
  • 4%English
  • 4%American
  • 3%Swedish

Year of entry for the foreign-born population

  • 272010 or later
  • 3632000 to 2009
  • 6161990 to 1999
  • 874Before 1990

Zip code 55024 topographic map

Major facilities with environmental interests located in this zip code:


Zip code 55024 marital status for males
Zip code 55024 marital status for females

Housing units lacking complete plumbing facilities: 0.2%
Housing units lacking complete kitchen facilities: 0.3%

Most commonly used house heating fuel

  • 87%Utility gas
  • 7%Electricity
  • 5%Bottled, tank, or LP gas

Population in 1990: 10,145. Population change in the 1990s: +10,980 (+108.2%).

Place of birth for U.S.-born residents:


45% of the 55024 zip code residents lived in the same house 5 years ago.
   Out of people who lived in different houses, 57% lived in this county.
   Out of people who lived in different counties, 50% lived in Minnesota.

91% of the 55024 zip code residents lived in the same house 1 year ago.
   Out of people who lived in different houses, 55% moved from this county.
   Out of people who lived in different houses, 24% moved from different county within same state.
   Out of people who lived in different houses, 21% moved from different state.

Year Householders Moved Into Unit

Private vs. public school enrollment:

Students in private schools in grades 1 to 8 (elementary and middle school): 477
Here:

9.7%
Minnesota:

11.3%
Students in private schools in grades 9 to 12 (high school): 71
Here:

4.5%
Minnesota:

8.3%
Students in private undergraduate colleges: 349
Here:

25.2%
Minnesota:

23.1%

Educational Attainment (%)

School Enrollment by Level of School (%)

Class of Workers (%)

Occupation by median earnings in the past 12 months ($)

  • 110,809Legal occupations
  • 90,494Life, physical, and social science occupations
  • 78,083Law enforcement workers including supervisors
  • 70,268Architecture and engineering occupations
  • 68,071Computer and mathematical occupations
  • 66,733Management occupations

Companies with federal contracts located in this zip code:

Top industries in this zip code by the number of employees in 2005:


Age and Sex of Sensory-Disabled Residents (Noninstitutionalized)

Age and Sex of Physically-Disabled Residents (Noninstitutionalized)

Age and Sex of Mentally-Disabled Residents (Noninstitutionalized)

Age and Sex of Self-Care Disabled Residents (Noninstitutionalized)

Age and Sex of Go-Outside-Home Disabled Residents (Noninstitutionalized)

Age and Sex of Residents with Employment Disability (Noninstitutionalized)

People in group quarters in 2010:

  • 134 people in emergency and transitional shelters (with sleeping facilities) for people experiencing homelessness
  • 68 people in nursing facilities/skilled-nursing facilities
  • 18 people in group homes intended for adults

People in group quarters in 2000:

  • 62 people in orthopedic wards and institutions for the physically handicapped
  • 16 people in homes for the mentally retarded

Fatal accident statistics in 2010:

  • Fatal accident count: 1
  • Vehicles involved in fatal accidents: 3
  • Fatal accidents caused by drunken drivers: 0
  • Fatalities: 1
  • Persons involved in fatal accidents: 3
  • Pedestrians involved in fatal accidents: 0
Home Mortgage Disclosure Act Aggregated Statistics For Year 2009
(Based on 4 full and 10 partial tracts)
A) FHA, FSA/RHS & VA
Home Purchase Loans
B) Conventional
Home Purchase Loans
C) Refinancings
D) Home Improvement Loans
E) Loans on Dwellings For 5+ Families
F) Non-occupant Loans on
< 5 Family Dwellings (A B C & D)
G) Loans On Manufactured
Home Dwelling (A B C & D)
NumberAverage ValueNumberAverage ValueNumberAverage ValueNumberAverage ValueNumberAverage ValueNumberAverage ValueNumberAverage Value
LOANS ORIGINATED547$188,581295$173,5821,529$201,57763$68,3551$63,00050$148,6209$90,823
APPLICATIONS APPROVED, NOT ACCEPTED24$161,45330$187,001156$193,5256$32,8980$04$170,9152$29,185
APPLICATIONS DENIED22$198,35841$109,597456$221,03449$39,6900$021$141,04915$35,741
APPLICATIONS WITHDRAWN34$162,53144$206,981357$207,73316$68,6240$08$132,9260$0
FILES CLOSED FOR INCOMPLETENESS5$176,2983$160,28782$202,4975$52,1400$00$01$131,460
Private Mortgage Insurance Companies Aggregated Statistics For Year 2009
(Based on 4 full and 10 partial tracts)
A) Conventional
Home Purchase Loans
B) Refinancings
C) Non-occupant Loans on
< 5 Family Dwellings (A & B)
NumberAverage ValueNumberAverage ValueNumberAverage Value
LOANS ORIGINATED61$226,71348$247,4372$274,000
APPLICATIONS APPROVED, NOT ACCEPTED9$268,98214$249,0550$0
APPLICATIONS DENIED12$206,17018$265,6510$0
APPLICATIONS WITHDRAWN4$199,0703$299,0000$0
FILES CLOSED FOR INCOMPLETENESS1$209,2600$00$0

Conventional Home Purchase Loans

Conventional Home Purchase Loans - Value

Most common first names in zip code 55024 among deceased individuals
NameCountLived (average)
John5078.7 years
Mary3881.8 years
James2867.2 years
Robert2868.0 years
William2679.6 years
Margaret2382.7 years
Helen2283.2 years
George2278.2 years
Anna2085.4 years
Donald2071.6 years
Most common last names in zip code 55024 among deceased individuals
Last nameCountLived (average)
Johnson3574.7 years
Anderson1573.2 years
Olson1282.0 years
Stapf1284.4 years
Smith1177.6 years
Thompson1080.2 years
Miller1071.3 years
Erickson1076.0 years
Becker1083.0 years
Nelson982.8 years
Businesses in zip code 55024
NameCountNameCount
Ace Hardware1Jones New York1
Burger King1Lane Furniture1
CVS1McDonald's1
Dairy Queen1U-Haul1
H&R Block1UPS1

Discuss Farmington, Minnesota (MN) on our hugely popular Minnesota forum.


Recent home sales, price trends, and home value evaluator powered by Onboard Informatics
© 2015 Onboard Informatics. Information is deemed reliable but not guaranteed.
 
City-data.com does not guarantee the accuracy or timeliness of any information on this site.  Use at your own risk.
Website © 2003-2015 Advameg, Inc.